Adani Green Energy Soars with 85% Profit Boost

Adani Green Energy Ltd reported a significant 85% surge in net profit for the December quarter, reaching Rs 474 crore. This growth was driven by increased power supply revenues, with notable capacity expansions in solar and wind energy projects. CEO Amit Singh highlighted advancements in battery storage systems.

Adani Green Energy Ltd (AGEL) has announced an impressive 85% increase in its consolidated net profit for the December quarter, reaching a total of Rs 474 crore. This surge is attributed to a rise in revenues from power supply, according to a BSE filing.

In comparison, the company reported a net profit of Rs 256 crore in the same period last year. Revenues from power supply saw an upward trajectory, rising to Rs 1,993 crore from Rs 1,765 crore in the year-ago period.

CEO Amit Singh emphasized the company's ongoing development of the world's largest renewable energy plant in Khavda, Gujarat, and large-scale projects in Rajasthan. Singh also mentioned the strategic inclusion of Battery Energy Storage Systems (BESS) due to recent cost declines, marking a crucial step in supporting the rapid growth of renewable energy and grid integration.

(With inputs from agencies.)